They are valuing the unlisted JB Financial at $93m.. presumably using PE of 14.9 mentioned in 28/2 announcement
Bell Financial (Bell Potter and Bell Direct) is a very similar business listed on the ASX. They have a fantastic brand, network and been established for years.
Their Market Cap is $178m and trade on a PE of 10.
Is JB Financial the single biggest bet HML has made?
Is HML fast becoming a financial service company rather than a hedge fund?
HML Price at posting:
$1.84 Sentiment: None Disclosure: Not Held
